European buyout house Permira paid £228m to take Just Retirement off the UK’s Alternative Investment Market in 2009, and also injected £25m of cash into the business.
Just Retirement chief executive Rodney Cook told Reuters that at least 40 per cent of the company would be offered to investors through the IPO.
That sale could raise about £300m for the business, although Cook added that Permira would remain a “very major shareholder” despite selling down its stake.
The company offers specialist life insurance products to people with reduced life expectancies, potentially offering higher annuities than traditional life insurance options.
Permira’s investment was the first by its financial services team, headed by James Fraser, previously of global business consultancy firm LEK Consulting.
Fraser was made a partner in 2011.
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